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Economy is collapsing right in front of our eyes!!
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Economy is collapsing right in front of our eyes!!  This thread currently has 1,619 views. |
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bumblethru
October 30, 2013, 8:42pm Report to Moderator
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Europe is starting to crumble, the Eurozone has double digit unemployment huge amount of debt and many countries in the Eurozone have no growth at all. US confidence is falling and retail sales are plummeting, stores like JC Penny, Sears, Macy’s, Walmart are predicting a horrible holiday season for retail. On Nov 1 those who receive food stamps will have a reduction in the amount they receive. This reduction could spark riots across America, something the Government would like so they could declare martial law.
Read more at http://investmentwatchblog.com.....#ByTPgvDtrIqgZf2P.99


When the INSANE are running the ASYLUM
In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche


“How fortunate for those in power that people never think.”
Adolph Hitler
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GrahamBonnet
October 30, 2013, 11:05pm Report to Moderator

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Bush's fault


"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
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Box A Rox
October 31, 2013, 6:55am Report to Moderator

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The modern conservative is engaged in one of man's oldest exercises in moral
philosophy; that is, the search for a superior moral justification for selfishness.
John Kenneth Galbraith
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Henry
October 31, 2013, 7:02am Report to Moderator

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It does seem people are losing confidence again, sales online for me are dead and many local stores can't move nothing. A lot of people are trying to dump stuff but nobody is buying, this month especially was horrible.


"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
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Box A Rox
October 31, 2013, 7:11am Report to Moderator

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Consumer Confidence:

Consumer Confidence is at it's highest level since the 2007 Bush Economic Meltdown:


Housing starts and home prices are also a measure of Consumer Confidence in the economy.


The modern conservative is engaged in one of man's oldest exercises in moral
philosophy; that is, the search for a superior moral justification for selfishness.
John Kenneth Galbraith
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Henry
October 31, 2013, 7:20am Report to Moderator

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Quoted from Box A Rox
Consumer Confidence:

Consumer Confidence is at it's highest level since the 2007 Bush Economic Meltdown:




That chart ended in May, I'm talking recent confidence, it is down and me and others don't need a graph to argue that.


"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
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55tbird
October 31, 2013, 7:36am Report to Moderator
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All propped up by the Fed and quantitative easing... it's a mirage...interest rates are artificially low.
Sooner or later the Fed will HAVE to stop it, and that's when we will see how the Economy is REALLY doing..


"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
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Box A Rox
October 31, 2013, 7:55am Report to Moderator

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Quoted Text
Just think of where this economy would be if there never were a GOP shutdown.  OR if the TeaBaggers
didn't hate Obama more than they LOVE THE USA.
Just think of how many new taxpayers there would be if, instead of working to take away a woman's
RIGHT to choose, the Teabaggin Republicans had worked on a jobs bill for the unemployed.
Those newly hired employees would be paying taxes, buying for the upcoming holiday season and
actually making a living.
Instead, the WE HOPE HE FAILS crowd is doing everything in their power to cut the safety net for
the poor and elderly as they fill the pockets of the rich.

There is a reason that the REPUBLICAN brand is now toxic and they will pay the price in the 2014
elections.


The modern conservative is engaged in one of man's oldest exercises in moral
philosophy; that is, the search for a superior moral justification for selfishness.
John Kenneth Galbraith
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bumblethru
October 31, 2013, 7:55am Report to Moderator
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Quoted Text

Thu Oct 24, 2013 9:28pm EDT

(Reuters) - Bank of America Corp (BAC.N) said on Thursday that it was cutting up to 4,000 mortgage jobs as fewer borrowers refinance, and fewer home loans go bad.

The layoffs are the latest round of job cuts at major banks as rising mortgage rates cut into demand for refinancing home loans. Wells Fargo & Co (WFC.N), JPMorgan Chase & Co (JPM.N) and Citigroup Inc. (C.N) have announced thousands of layoffs among them in recent months.

At Bank of America, the third largest U.S. mortgage lender, about 1,200 employees were notified this week that they would be terminated. Most were full-time workers in the division that processes new mortgages, a spokesman said.

Before the end of the year, the bank is looking to cut another 2,800 jobs in the division that collects payments from borrowers who are behind, a spokesperson added. Most of the layoffs in that division will affect contractors.
http://www.reuters.com/article/2013/10/25/us-bankofamerica-layoffs-idUSBRE99N1JR20131025


When the INSANE are running the ASYLUM
In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche


“How fortunate for those in power that people never think.”
Adolph Hitler
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bumblethru
October 31, 2013, 8:16am Report to Moderator
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Quoted Text
Phoebe Putney cuts 127 positions as more hospitals axe jobs

By Brian Bowman on October 25, 2013 in Companies Laying Off, Local News and Information


Albany-based Phoebe Putney Health System will cut 127 jobs as part of an organizational restructuring, on top of 33 “leadership” positions it eliminated in early October. The reductions at southwest Georgia’s dominant hospital system join similar staff cuts elsewhere in the state and nation, as reimbursement reductions and other factors press hospital budgets, reports Georgia Health News. “Like other hospitals and health systems throughout the United States, Phoebe is facing a tidal wave…




Bank of America to slash more than 3,000 mortgage jobs

By Brian Bowman on October 24, 2013 in Companies Laying Off, Local News and Information


Here’s the good news-bad news in the report today that Bank of America (NYSEAC) will cut 3,000 mortgage jobs. The Wall Street Journal broke the story earlier today. Let’s start with the good news. Charlotte-based BofA is cutting about 3,000 jobs this quarter from its Legacy Asset Servicing division. Those are the people who for several years have worked on modifying underwater mortgages, processing foreclosure cases and otherwise dealing with the mortgage morass BofA inherited when it bought…


Report: SunTrust to cut 800 jobs in coming months

By Brian Bowman on October 22, 2013 in Companies Laying Off, Local News and Information


Atlanta-based SunTrust Banks Inc. (NYSE: STI) will cut 800 mortgage employees as the refinancing boom that boosted many banks’ loan volumes comes to a halt amid rising interest rates, reports The Wall Street Journal. The Atlanta bank will cut the positions over the next several months and expects attrition to account for some of the reductions, Sue Mallino, a SunTrust spokeswoman, said in a statement. “Like many financial institutions, we are adjusting our staffing in the mortgage business to…




Siemens cutting 15,000 jobs

By Brian Bowman on October 14, 2013 in Companies Laying Off


German engineering and electronics giant Siemens will eliminate 15,000 jobs over the next year as part of $8.1 billion in cost cuts, MarketWatch reported. Siemens (NYSE: SI) has a significant presence in metro Atlanta with Siemens Healthcare and Siemens Building Technologies units in Atlanta and a Siemens Industry Inc. unit in Alpharetta. About 33 percent of the cuts will be in Germany, the news outlet noted. No word yet on the impact on U.S. units.




Wells Fargo cuts 150 Charlotte jobs, 1,865 nationwide

By Brian Bowman on September 18, 2013 in Companies Laying Off, Local News and Information


Responding to a slowing mortgage market, Wells Fargo will cut 150 more jobs in the Charlotte region, the bank confirmed Wednesday afternoon. The San Francisco-based bank will eliminate a total of 1,865 jobs nationwide. The impacted workers were informed Wednesday with a 60-day notice. The employees affected locally are mostly in Charlotte, with a few in nearby Fort Mill. The layoff comes a few weeks after the bank slashed 284 local mortgage jobs as part of a 2,323-job reduction nationwide. The…



First Advantage to close office, cut 113 jobs in Ballantyne

By Brian Bowman on September 17, 2013 in Companies Laying Off, Local News and Information


A company that provides screening services and background checks will close its Charlotte office, and 113 people will lose their jobs, according to a document obtained by the Charlotte Business Journal. First Advantage says it will close its office at 13950 Ballantyne Corporate Place. The permanent closing will affect 113 workers who will be laid off in November and December, according to a letter sent to state authorities as part of the Worker Adjustment and Retraining Notification Act, or WARN. The…



Bank of America to lay off 1,000 in Ohio, more elsewhere

By Brian Bowman on September 2, 2013 in Companies Laying Off, Local News and Information


Bank of America Corp. (NYSEAC) is reportedly planning to lay off more than 1,000 employees in Ohio who work in home loan fulfillment and consumer banking services, and the cuts might not stop there. The Charlotte-based bank plans to close three operations in Cincinnati and Cleveland by Oct. 31 at a cost of about 1,100 jobs, Crain’s Cleveland Business reports. Company officials said the closings and layoffs are the result of a recent contraction in the refinance market. BofA also plans more layoffs…




General Dynamics quitting Charlotte, cutting 90 jobs

By Brian Bowman on July 15, 2013 in Companies Laying Off, Local News and Information


General Dynamics Corp. is relocating its Charlotte-based weapons division to Florida at a loss of 90 jobs. The company says the move is a response to falling demand and increasing competition. The local division, General Dynamics Armament and Technical Products, will be folded into the company’s Ordnance and Tactical Systems in St. Petersburg, Fla. The General Dynamics unit came to Charlotte from Vermont in 2003 with great fanfare. The Falls Church, Va.-based company (NYSE:GD) ranks No. 98 in…




Cobb EMC cutting up to 110 jobs

By Brian Bowman on June 26, 2013 in Companies Laying Off, Local News and Information


Cobb EMC will cut between 50 and 110 staff and line jobs through an offer of voluntary separation packages as part of its transition out of non-energy businesses. The Marietta, Ga.,-based Electric Membership Corporation said a recent company review found it was “significantly overstaffed” in certain areas compared to peer companies nationally and some of the company’s information technology systems are out of alignment with current needs and could be replaced with less complicated systems…




BB&T to trim jobs in restructuring

By Brian Bowman on May 3, 2013 in Companies Laying Off, Local News and Information


BB&T Corp. is eliminating some jobs in a broad corporate restructuring, though the extent of the impact is unclear, The Business Journal of the Triad reports. BB&T CEO Kelly King told analysts in April that reducing expenses is a major focus for the bank this year, given the still-weak economy. Those reductions involve both personnel and potential branch closings, according to the report. Winston-Salem-based BB&T (NYSEBT) has about 34,000 employees companywide. More than 12,000 of them are in…

....................OH AND THERE ARE MANY MANY MORE......http://news.localjobs.com/category/companies-laying-off/


When the INSANE are running the ASYLUM
In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche


“How fortunate for those in power that people never think.”
Adolph Hitler
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bumblethru
October 31, 2013, 8:25am Report to Moderator
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Friends of ours has a son who works for a very high profile financial firm. He said that the economy is teetering on a fine line of collapse and slow recovery. (10-15 years)

He said that there are more large layoffs on the horizon and that they are all waiting to see how this holiday season is going to make it's mark in history. He said that most retailers are holding their  breath on this holiday season....but fear that their projections won't be met.

He did 'candidly' say that if it weren't for the government funding/holding up the stock market.....it would have collapsed a few years ago and that it is just a matter of time when the government will not be able to afford it. The government assumed that the wall street bail out (that continues today) wouldn't have taken this long, with the hopes that the economy would pick up allowing the government to step aside. Didn't happen yet!

Bottom line here folks...........is that the economy is NOT good!! At this point it really doesn't matter whether it is bush's, Obama's, the dems or the reps fault..................IT'S NOT GOOD!!!! We truly are walking a very very very thin line here!


When the INSANE are running the ASYLUM
In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche


“How fortunate for those in power that people never think.”
Adolph Hitler
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Box A Rox
October 31, 2013, 9:57am Report to Moderator

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The chart shows private-sector job growth and decline since the current recession began in December 2007,
with the red bars representing the Bush presidency and the blue bars representing the Obama presidency.



The modern conservative is engaged in one of man's oldest exercises in moral
philosophy; that is, the search for a superior moral justification for selfishness.
John Kenneth Galbraith
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Box A Rox
October 31, 2013, 10:07am Report to Moderator

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The Deficit Under Obama:


The Treasury Department released its final budget tally for fiscal year 2013, finding:
~“deficit in FY 2013 fell to $680 billion,
~ That is $409 billion less than the FY 2012 deficit
~ and $293 billion less than forecast in President Obama’s April Budget.”

Financial Times: “Higher tax receipts accounted for almost four-fifths of the decline in the
deficit as a stronger economy boosted profits and earnings, while income taxes rose on
the highest incomes, and a temporary payroll tax break expired at the start of the year.
Revenues were up 13 per cent on the previous year.”


The modern conservative is engaged in one of man's oldest exercises in moral
philosophy; that is, the search for a superior moral justification for selfishness.
John Kenneth Galbraith
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bumblethru
October 31, 2013, 10:14am Report to Moderator
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.............just some sound advice her from our friend's son who DID HONESTLY say..........don't pay ANY attention to graphs or the media or even some financial advisors for that matter........they see them too and all but laugh at them!!! REALLY!!!

.........just a word to the wise....


When the INSANE are running the ASYLUM
In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche


“How fortunate for those in power that people never think.”
Adolph Hitler
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Box A Rox
October 31, 2013, 10:18am Report to Moderator

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Quoted from bumblethru
.............just some sound advice her from our friend's son who DID HONESTLY say..........don't pay ANY attention to graphs or the media or even some financial advisors for that matter........they see them too and all but laugh at them!!! REALLY!!!

.........just a word to the wise....


Besides ignoring Bumblers advice, we get to ignore his friends son's advice!  


The modern conservative is engaged in one of man's oldest exercises in moral
philosophy; that is, the search for a superior moral justification for selfishness.
John Kenneth Galbraith
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